2840 S Circle · Colorado Springs, CO 80906

$75,000

2 bd · 2.0 ba · 2,832 sqft · Land public records · 63 Days on market

Built 1994 1,088 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this well-maintained manufactured home located in a desirable 55+ community. Featuring two comfortable bedrooms, two bathrooms, and a versatile bonus room, this home offers flexible space perfect for a home office, hobby room, or guest area. The open and functional layout provides easy everyday living, while the primary suite includes a private bath for added comfort. Enjoy a peaceful setting designed for low-maintenance living, with community amenities that support an active and relaxed lifestyle. Conveniently located near shopping, dining, and local services, this home is a wonderful opportunity to enjoy comfort, convenience, and community.

Key facts

• 1,088 sq ft lot
• 2 parking spots
• Built 1994

Tags

• RENOVATED MOBILE HOME
• STAINLESS STEEL APPLIANCES
• LUXURY VINYL PLANK FLOORING
• BUTCHER BLOCK COUNTER TOPS
• NEWER WINDOW WORLD WINDOWS
• SPACIOUS LAUNDRY AREA

Property features AI

Finance

• Other: Located in a senior community
• Financial info: Land lease payment $675 per month (lease expiration 12/31/2026)
• HOA & community: Part of Circle Mobile Home Park association (professionally managed); Association amenities include a clubhouse; Association fee frequency: None listed; Park phone available

Exterior

• Parking: 2 total parking spaces; 2 covered carport spaces (tandem)
• Utilities: Public sewer; Land lease: Yes (monthly land lease of $675, lease expires December 31, 2026)
• Home design: Manufactured in-park home (Manufactured Home); Located in Circle Mobile Home Park; Ownership: Agent Owner
• Construction: Vinyl siding; Rolled/Hot Mop roof; Skirted with vinyl; Manufacture make: FRHT; Mobile dimensions approximately 72' x 16'
• Exterior features: Balcony; Garden; Exterior lighting; Private yard; Covered patio/porch, deck, front porch, and patio; Partial fencing; Level lot

Interior

• Kitchen: Includes dishwasher, microwave, range, refrigerator
• Bedrooms: 2 bedrooms (both on the main level); Primary suite on main level
• Flooring: Vinyl flooring
• Bathrooms: 2 bathrooms (both are three-quarter baths on the main level)
• Heating & cooling: Forced air heating; Cooling: Other
• Interior features: Dishwasher, Microwave, Range, Refrigerator; Double pane windows; Window treatments
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $75k.

Deal economics

• At list price, monthly cash flow is $869 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.2% vs local median 3.3% in Colorado Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 78/100 on livability (#23 in CO, #2,639 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, housing A+, health & safety A+; Watch: cost of living C-, crime F.
• Harrison School District No. 2 In The County Of El Paso An (urban): math 16% / reading 35% proficiency, ranked #67 of 86 in CO (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.4%/yr); 300 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 3,906 units permitted in El Paso County in 2024 (872 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• El Paso County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.34% ✓
• Cap rate: 20.19%
• Cash-on-cash: 49.63%
• DSCR: 3.21
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 43.9%
• Equity multiple: 2.81×
• Total profit: $38,047
• Equity at exit: $11,183

10-year hold

• IRR: 48.5%
• Equity multiple: 5.03×
• Total profit: $84,587
• Equity at exit: $6,485

Cash invested: $21,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 38 Tenant-Leaning
• State Colorado: 38 Tenant-Leaning · D+4
• County: — inherits STATE
• City: — inherits STATE

2023 reforms: 10-day cure, mandated notice, source-of-income protected. Courts backlogged in Denver.

Methodology + full state rankings →

ZIP-level market 80906

• Rents YoY: -0.4%
• Active inventory: 300
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,756 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $869

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 46%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2290 St Claire Dr Colorado Springs, CO	3.0	2.0	2952	$2,349	$0.80	2d	1	0.54mi

Listing history 50 events

1. 2026-06-18
   days on market $75,000 Active 63 DOM
2. 2026-06-17
   days on market $75,000 Active 62 DOM
3. 2026-06-16
   days on market $75,000 Active 61 DOM
4. 2026-06-15
   days on market $75,000 Active 60 DOM
5. 2026-06-14
   days on market $75,000 Active 58 DOM
6. 2026-06-13
   days on market $75,000 Active 57 DOM
7. 2026-06-10
   days on market $75,000 Active 55 DOM
8. 2026-06-09
   days on market $75,000 Active 54 DOM
9. 2026-06-08
   days on market $75,000 Active 53 DOM
10. 2026-06-07
    days on market $75,000 Active 52 DOM
11. 2026-06-05
    days on market $75,000 Active 49 DOM
12. 2026-06-03
    days on market $75,000 Active 48 DOM
13. 2026-06-03
    days on market $75,000 Active 47 DOM
14. 2026-06-01
    days on market $75,000 Active 46 DOM
15. 2026-05-31
    days on market $75,000 Active 45 DOM
16. 2026-05-01
    price $115,000 672-char remark

    Show marketing remark (672 chars)

    Welcome home to this well-maintained manufactured home located in a desirable 55+ community. Featuring two comfortable bedrooms, two bathrooms, and a versatile bonus room, this home offers flexible space perfect for a home office, hobby room, or guest area. The open and functional layout provides easy everyday living, while the primary suite includes a private bath for added comfort. Enjoy a peaceful setting designed for low-maintenance living, with community amenities that support an active and relaxed lifestyle. Conveniently located near shopping, dining, and local services, this home is a wonderful opportunity to enjoy comfort, convenience, and community.

17. 2026-04-29
    price $59,000 1504-char remark

    Show marketing remark (1504 chars)

    Welcome home to this spacious 3 bedroom 2 bath home located in Colorado Springs, featuring breathtaking mountain views that truly set the scene. This inviting residence offers a comfortable layout with generous living space, abundant natural light, and thoughtful functionality throughout. The open living and dining areas create a welcoming atmosphere, ideal for everyday living or hosting guests. The kitchen provides ample cabinetry, counter space, and a functional layout that flows easily into the main living areas. The primary bedroom is very spacious with a private en-suite with soaking tub, separate step in shower, oversized vanity, plus, a linen closet. This plan is ideal with the additional bedrooms on the opposite side of the home offering flexibility for a work out area, hobby space or a home office, while the second bathroom is conveniently positioned for ease of use. Love your outdoor living space with a large covered porch—perfect for morning coffee or relaxing afternoons while taking in the stunning mountain backdrop—along with a fenced yard on one side of the home that offers space for gardening or personal outdoor touches. Additional highlights include a dedicated laundry area with hanging storage cabinets, plus an off street covered carport. Community amenities include a clubhouse, vending area, and gathering space for social events. Conveniently located near shopping, restaurants, public transit, and just minutes from I-25 and downtown Colorado Springs!

18. 2026-04-16
    listed $75,000 Active
19. 2026-03-28
    price $70,000
20. 2026-03-26
    soldstatus $28,300,000
21. 2026-03-13
    status Active
22. 2026-03-03
    status Pending Accepting Backup Offers
23. 2026-02-11
    price $130,000 672-char remark

    Show marketing remark (672 chars)

    Welcome home to this well-maintained manufactured home located in a desirable 55+ community. Featuring two comfortable bedrooms, two bathrooms, and a versatile bonus room, this home offers flexible space perfect for a home office, hobby room, or guest area. The open and functional layout provides easy everyday living, while the primary suite includes a private bath for added comfort. Enjoy a peaceful setting designed for low-maintenance living, with community amenities that support an active and relaxed lifestyle. Conveniently located near shopping, dining, and local services, this home is a wonderful opportunity to enjoy comfort, convenience, and community.

24. 2026-01-27
    listed $150,000 Active 672-char remark

    Show marketing remark (672 chars)

    Welcome home to this well-maintained manufactured home located in a desirable 55+ community. Featuring two comfortable bedrooms, two bathrooms, and a versatile bonus room, this home offers flexible space perfect for a home office, hobby room, or guest area. The open and functional layout provides easy everyday living, while the primary suite includes a private bath for added comfort. Enjoy a peaceful setting designed for low-maintenance living, with community amenities that support an active and relaxed lifestyle. Conveniently located near shopping, dining, and local services, this home is a wonderful opportunity to enjoy comfort, convenience, and community.

25. 2026-01-23
    listed $65,000 Active 1504-char remark

    Show marketing remark (1504 chars)

    Welcome home to this spacious 3 bedroom 2 bath home located in Colorado Springs, featuring breathtaking mountain views that truly set the scene. This inviting residence offers a comfortable layout with generous living space, abundant natural light, and thoughtful functionality throughout. The open living and dining areas create a welcoming atmosphere, ideal for everyday living or hosting guests. The kitchen provides ample cabinetry, counter space, and a functional layout that flows easily into the main living areas. The primary bedroom is very spacious with a private en-suite with soaking tub, separate step in shower, oversized vanity, plus, a linen closet. This plan is ideal with the additional bedrooms on the opposite side of the home offering flexibility for a work out area, hobby space or a home office, while the second bathroom is conveniently positioned for ease of use. Love your outdoor living space with a large covered porch—perfect for morning coffee or relaxing afternoons while taking in the stunning mountain backdrop—along with a fenced yard on one side of the home that offers space for gardening or personal outdoor touches. Additional highlights include a dedicated laundry area with hanging storage cabinets, plus an off street covered carport. Community amenities include a clubhouse, vending area, and gathering space for social events. Conveniently located near shopping, restaurants, public transit, and just minutes from I-25 and downtown Colorado Springs!

26. 2025-12-26
    price $75,000
27. 2025-11-02
    price $80,000
28. 2025-10-03
    historical
29. 2025-09-29
    status Active
30. 2025-09-17
    status Pending
31. 2025-09-12
    status Pending
32. 2025-09-10
    soldstatus $58,000 Closed
33. 2025-08-13
    listed $88,000 Active
34. 2025-07-11
    price $60,000
35. 2025-06-23
    price $78,700
36. 2025-06-15
    status Active
37. 2025-05-22
    price $65,000
38. 2025-05-16
    status Pending
39. 2025-04-12
    listed $70,000 Active
40. 2025-04-03
    listed $98,000 Active
41. 2025-02-28
    historical
42. 2025-02-28
    historical
43. 2025-01-06
    price $115,000
44. 2025-01-06
    status Active
45. 2025-01-06
    listed $115,000 Active
46. 2024-12-31
    historical
47. 2024-12-09
    price $125,000
48. 2024-11-15
    price $130,000
49. 2024-10-14
    price $127,500
50. 2024-09-20
    listed $130,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,066
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,685
• − Management: −$1,685
• − Depreciation: −$2,182
• Taxable income: $9,813
• Est. tax owed @ 24.0%: −$2,355
• After-tax cash flow: $8,068/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Harrison School District No. 2 In The County Of El Paso An
• NCES district ID: 0804530
• Math proficiency: 16% ▼ -13.00%
• Reading proficiency: 35% ▼ -7.00%
• Median HH income: $40,242
• Composite: 21.47/100
• National rank: #8333
• State rank: #67 of 86 in CO

Livability — Colorado Springs

• Score: 78/100
• State rank: #23
• US rank: #2639

Category grades

Amenities A+ Commute A Cost of living C- Crime F Employment B Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: El Paso County · 689,348 people
• City population: 555,783
• Metro: Colorado Springs, CO
• Population (ZIP): 37,502
• Household income: $89,984
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 1572.0

Population outlook (El Paso County) Hauer SSP2

• Today (2025): 768,926 people
• By 2030: 815,739 · +6.1%
• By 2040: 903,489 · +17.5%
• By 2050: 981,204 · +27.6%
• By 2075: 1,155,542 · +50.3%
• By 2100: 1,202,070 · +56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 18% Two or more races 11% Black 4% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2%
• Common ancestry: Italian 3% Romanian 3% Slovak 3%
• Foreign-born: 7% · Canada, South Korea, Vietnam
• Languages at home: 89% English-only · Spanish 6% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · El Paso

• 2024 margin: Lean R (+9.8) · D 43.8% · R 53.5% · Other 2.7%
• 2008→2024 swing: +9.0pp toward D · 2008: -18.8pp · 2024: -9.8pp
• All cycles: 2024: R+9.8 2020: R+10.8 2016: R+22.6 2012: R+21.4 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -272.61%
• Current HPI: 248.2125
• Rent YoY: ▼ -0.43%
• Metro: Colorado Springs, CO
• State GDP YoY: ▲ 1.95%
• F500 in state: 14

Industry mix (Fortune 500 HQ in CO)

Industry	F500 HQs	Revenue
▸Technology Distribution	1	$31B
▸Food / Agriculture	1	$18B
▸Packaging	1	$14B
▸Healthcare	1	$13B
▸Energy	1	$10B
▸Technology	1	$4B

Price history

+505.3% since first listed

59 events — show timeline

• 2026-05-01 Price Changed $115,000 REColorado as Distributed by MLS Grid
• 2026-04-29 Price Changed $59,000 REColorado as Distributed by MLS Grid
• 2026-04-16 Listed $75,000 REColorado as Distributed by MLS Grid
• 2026-03-28 Price Changed $70,000 REColorado as Distributed by MLS Grid
• 2026-03-26 Sold (Public Records) $28,300,000 Public Records
• 2026-03-13 Relisted — REColorado as Distributed by MLS Grid
• 2026-03-03 Pending — REColorado as Distributed by MLS Grid
• 2026-02-11 Price Changed $130,000 REColorado as Distributed by MLS Grid
• 2026-01-27 Listed $150,000 REColorado as Distributed by MLS Grid
• 2026-01-23 Listed $65,000 REColorado as Distributed by MLS Grid
• 2025-12-26 Price Changed $75,000 REColorado as Distributed by MLS Grid
• 2025-11-02 Price Changed $80,000 REColorado as Distributed by MLS Grid
• 2025-10-03 Listing Removed — REColorado as Distributed by MLS Grid
• 2025-09-29 Relisted — REColorado as Distributed by MLS Grid
• 2025-09-17 Pending — REColorado as Distributed by MLS Grid
• 2025-09-12 Pending — REColorado as Distributed by MLS Grid
• 2025-09-10 Sold (MLS) $58,000 REColorado as Distributed by MLS Grid
• 2025-08-13 Listed $88,000 REColorado as Distributed by MLS Grid
• 2025-07-11 Price Changed $60,000 REColorado as Distributed by MLS Grid
• 2025-06-23 Price Changed $78,700 REColorado as Distributed by MLS Grid
• 2025-06-15 Relisted — REColorado as Distributed by MLS Grid
• 2025-05-22 Price Changed $65,000 REColorado as Distributed by MLS Grid
• 2025-05-16 Pending — REColorado as Distributed by MLS Grid
• 2025-04-12 Listed $70,000 REColorado as Distributed by MLS Grid
• 2025-04-03 Listed $98,000 REColorado as Distributed by MLS Grid
• 2025-02-28 Listing Removed — REColorado as Distributed by MLS Grid
• 2025-02-28 Listing Removed — REColorado as Distributed by MLS Grid
• 2025-01-06 Price Changed $115,000 REColorado as Distributed by MLS Grid
• 2025-01-06 Relisted — REColorado as Distributed by MLS Grid
• 2025-01-06 Listed $115,000 REColorado as Distributed by MLS Grid
• 2024-12-31 Listing Removed — REColorado as Distributed by MLS Grid
• 2024-12-09 Price Changed $125,000 REColorado as Distributed by MLS Grid
• 2024-11-15 Price Changed $130,000 REColorado as Distributed by MLS Grid
• 2024-10-14 Price Changed $127,500 REColorado as Distributed by MLS Grid
• 2024-09-20 Listed $130,000 REColorado as Distributed by MLS Grid
• 2024-07-18 Sold (MLS) $45,000 REColorado as Distributed by MLS Grid
• 2024-06-05 Pending — REColorado as Distributed by MLS Grid
• 2024-05-22 Listed $50,000 REColorado as Distributed by MLS Grid
• 2024-04-29 Sold (MLS) $105,000 REColorado as Distributed by MLS Grid
• 2024-02-21 Pending — REColorado as Distributed by MLS Grid
• 2023-11-17 Price Changed $120,000 REColorado as Distributed by MLS Grid
• 2023-10-04 Listed $125,000 REColorado as Distributed by MLS Grid
• 2022-08-05 Listing Removed — REColorado as Distributed by MLS Grid
• 2022-07-28 Price Changed $49,995 REColorado as Distributed by MLS Grid
• 2022-07-20 Listed $55,000 REColorado as Distributed by MLS Grid
• 1998-02-20 Sold (Public Records) $19,442 Public Records
• 1998-01-27 Sold (Public Records) $23,517 Public Records
• 1997-11-11 Sold (Public Records) $17,500 Public Records
• 1996-12-19 Sold (Public Records) $35,560 Public Records
• 1996-04-09 Sold (Public Records) $30,500 Public Records
• 1996-02-08 Sold (Public Records) $30,500 Public Records
• 1995-05-04 Sold (Public Records) $19,500 Public Records
• 1994-12-22 Sold (Public Records) $33,911 Public Records
• 1994-10-26 Sold (Public Records) $29,650 Public Records
• 1994-01-13 Sold (Public Records) $33,125 Public Records
• 1994-01-11 Sold (Public Records) $22,750 Public Records
• 1992-03-20 Sold (Public Records) $20,500 Public Records
• 1991-11-20 Sold (Public Records) $20,500 Public Records
• 1989-12-01 Sold (Public Records) $19,000 Public Records

Property tax history

+2.9%/yr

Latest (2024): $16,649 · +30.3% YoY. Source: county tax records.